...from whenever they went to the white and black, with checkerboard graphics, color scheme in the late '60's, until the late '70's/early '80's when they came out with the shorter, tighter PX 10 LE (and other assorted letters), this is about what they were. They were the cheapest all 531 bike you could buy, so they sold a lot of them all over, especially in the US. The sales concept was that you, too, could ride what the Peugeot team rode in the TdF, even though most of those were custom frames, repainted in the team colors.
I've had four or five of them here, and I even started a thread on modifying them, to make them a little more functional for the more aggressive rider.
Weaknesses in the original components are the shifters, the derailleurs, the stem and bar. Your example has been fuglied up a little with a threadless adapter, and a transplanted bar, stem, and levers that ought to be recycled into beer cans ASAP. Those are Prugnat lugs, rather than Nervex. they work fine, even if a little simpler in appearance. The fit and finish was sloppy on many of them, because that's how it was in the bike boom era.
It's not an especially great price, when you consider that you're gonna need to source a stem, bar, and MAFAC levers, at a minimum. You can adapt an Asian stem and bar into a very serviceable improvement over the originals, by sanding down the stem insertion to 22.0 from 22.2. The MAFAC levers that were original worked well. I guess this guy wanted those stupid safety levers, which are not safe at all.
More problematic is the front derailleur, but almost anything with a clamp that fits the tubing will work. That's already been done. Whoever has it set up that way is too tall for this bike, which is why that seat post is extended so far. That may or may not be the original post, but the saddle looks OK in the pictures, which is worth something.
Mostly this is an older French bike, and all the tubing and threading standards on it are metric. This makes it a little harder to source parts and to work on it, if you have no experience with them. But it's a nice, open, longer wheel based frame, and for an older "race" bike, it's a fun ride. If I really wanted it, I'd offer a little less because of the fugly cockpit, but if the wheels are good, it's not a big deal to change that out. Here's one of mine set up as a sports tourer.
For many years these sold here in all original, but project condition, on the local CL, for between $300 and $500. And you needed to replace the front derailleur, stem, bar, and tyres on those at a minimum. They show up less frequently now. I guess they all got collected or recycled.